HK Stock Market Move | GUMING(01364) rose over 3% in the morning session; National Day Golden Week GMV may record high single-digit year-on-year growth, continuing to outperform peers in the freshly made tea beverage industry.

GUMING(01364) rose over 3% in the morning session, up 3.02% as of press time, at HK$23.86, with a turnover of HK$51.5961 million. On the news front, Daiwa released a research report stating that after reviewing September and early October National Day Golden Week data, the firm continues to favor GUMING within China's restaurant sector. Daiwa cited channel data indicating that GUMING's per-store gross merchandise value (GMV) for October 1-7, 2026 may record high single-digit year-on-year growth, faster than the mid single-digit increase in September, and continues to outperform freshly made tea beverage peers. CLSA previously noted that GUMING's revenue for the first half of 2026 rose 31.9% year-on-year, with adjusted net profit growing 44.4%. Despite a slowdown in store openings, average daily GMV per store still rose 3.4%, mainly driven by coffee and breakfast businesses, offsetting the impact of fading delivery subsidies. The firm sees further upside from coffee, bakery, and HPP products, while improved franchisee economics are also expected to support accelerated store openings in 2027. CLSA raised its adjusted net profit forecasts for the company for 2026-2028 by 3%.